Kofi Mensah The prominent global asset management entity, Alliance Bernstein, projects that by 2025, bitcoin’s valuation might soar to $150,000. Gautam Chhugani, the senior analyst at the firm with a focus on digital assets, made this forecast in a recent communication. The prediction is underscored by the anticipation of the U.S. Securities and Exchange Commission (SEC) green-lighting spot bitcoin exchange-traded funds (ETFs) in the near future.
Chhugani’s stance is that even if one doesn’t share the same level of enthusiasm for bitcoin as they do, an objective observation deems that bitcoin’s phase in the market cycle is about to shift. He emphasized:
Timing is crucial for an idea’s success — it appears that the SEC is on the brink of endorsing ETFs by globally renowned asset management conglomerates, such as Blackrock and Fidelity.
Highlighting an upcoming significant event, Chhugani pointed out that the next bitcoin halving set for April next year will see the exit of “losing miners.” This will potentially pave the way for a larger profit margin for the miners who remain in the game.
Alliance Bernstein also anticipates that with the approval of spot bitcoin ETFs, as much as 10% of bitcoin’s existing supply could be integrated into these ETFs. Presently, Grayscale’s Bitcoin Trust (GBTC) is the closest comparative product in the market. It’s worth noting that Grayscale has petitioned the SEC to transform the GBTC into a spot bitcoin ETF. While this proposition was initially declined by the SEC, a subsequent legal decision mandated the SEC to reassess Grayscale’s request.
In recent news, Alliance Bernstein hinted that the introduction of a spot bitcoin ETF by January of the forthcoming year is highly probable. Other experts in the industry, including those from JPMorgan, anticipate the SEC to sanction several spot bitcoin ETFs simultaneously. Adding fuel to this speculation, bitcoin’s price witnessed a spike last week, spurred by rumors that Blackrock, a leading asset management firm globally, is on the verge of rolling out its spot bitcoin ETF.
Gary Gensler, the Chairman of the SEC, shared that the commission is presently evaluating between eight to ten spot bitcoin ETF applications. Among the applicants are notable names like ARK Investment Management headed by Cathie Wood, Blackrock, Bitwise, Wisdomtree, Fidelity, Vaneck, and Invesco. Eight of these applications are slated for final reviews in the first three months of the upcoming year, while three are set for the subsequent quarter.
How do you perceive this projection of bitcoin reaching $150,000 by 2025? Share your insights in the comments below.
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Frequently Asked Questions (FAQs) about fokus keyword: Bitcoin ETF Approval
What price does Alliance Bernstein predict for Bitcoin by 2025?
Alliance Bernstein, a global asset management firm, forecasts that Bitcoin’s price might reach $150,000 by the year 2025.
Who is the senior analyst at Alliance Bernstein that discussed this prediction?
The senior analyst at Alliance Bernstein who made this forecast is Gautam Chhugani, who specializes in digital assets.
Why does Alliance Bernstein believe that Bitcoin’s price will reach this value?
The prediction is underlined by the anticipation that the U.S. Securities and Exchange Commission (SEC) will soon give approval to spot bitcoin exchange-traded funds (ETFs).
What event in the Bitcoin market is Gautam Chhugani highlighting for the next year?
Gautam Chhugani points to the bitcoin halving event scheduled for April of the coming year, which he believes will result in the exit of “losing miners”, thereby creating a scenario for greater profit margins for the remaining miners.
Is there any existing product similar to the anticipated spot bitcoin ETFs?
Yes, the Grayscale’s Bitcoin Trust (GBTC) is currently a similar product in the market. Grayscale has also petitioned the SEC to transform the GBTC into a spot bitcoin ETF.
How many spot bitcoin ETF applications is the SEC currently considering?
Gary Gensler, the Chairman of the SEC, revealed that the commission is currently reviewing between eight to ten spot bitcoin ETF applications.
Which prominent asset management and investment firms have applied for spot bitcoin ETFs?
Some of the notable applicants for spot bitcoin ETFs include ARK Investment Management led by Cathie Wood, Blackrock, Bitwise, Wisdomtree, Fidelity, Vaneck, and Invesco.
More about fokus keyword: Bitcoin ETF Approval
- Alliance Bernstein Official Statement
- U.S. Securities and Exchange Commission (SEC) Official Website
- Bitcoin Halving Explained
- Grayscale’s Bitcoin Trust (GBTC) Overview
- Gary Gensler’s Statement on ETF Applications
- ARK Investment Management’s ETF Application Details
- Blackrock’s Position on Bitcoin ETFs
- Wisdomtree’s Digital Asset Initiatives
- Vaneck’s Cryptocurrency Projects
- Invesco’s Digital Asset Strategy
7 comments
Gary gensler and the sec always keep us on our toes. hope they make a decision soon. this uncertainty’s a bit much.
so many big names in the game now. Blackrock, Fidelity, the whole lot. Crypto’s no longer the future, it’s the present i guess.
after the bitcoin halving, things are definitely gonna be interesting. curious to see how the market reacts.
I’ve been hearing about these ETFs forever… when are they actually gonna get approved though.
Honestly didn’t expect Alliance Bernstein to be so bullish on bitcoin. Their prediction’s kinda wild, isn’t it?
Gautam Chhugani seems to be on point. but 150k by 2025? feels a bit optimistic.
wait, is Grayscale’s Bitcoin Trust really similar to a spot bitcoin ETF? always thought they were different.